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Corvus Energy Receives Investment for Zero-Emissions Maritime

Zero-emissions maritime

Corvus Energy, a global pioneer in environmentally friendly energy solutions tailored for maritime, offshore, and port uses, revealed

Corvus Energy, a global pioneer in environmentally friendly energy solutions tailored for maritime, offshore, and port uses, revealed today that it has obtained an investment from Woven Capital, the growth fund of Toyota. This investment aims to increase the advancement of Corvus Energy’s expanding range of products in battery storage and hydrogen fuel cells, as well as to facilitate the company’s expansion into new regions. Noteworthy strategic investors such as BW Group, Equinor Ventures, Hydro, and Shell Ventures are joining Woven Capital in this investment venture.

“Hydrogen is a fast-growing sector with established applications in many industries and is playing a pivotal part in decarbonizing shipping, energy, transportation and heavy industry,” said Nicole LeBlanc, partner at Woven Capital. “With major maritime players embracing clean energy commitments and technologies, the market is growing rapidly. Our investment and strategic support are well-positioned to help Corvus expand its reach and solutions to continue leading the zero-emission maritime market.”

“We are very excited about this strategic investment from Woven Capital, which validates our leading position in a fast-growing market,” said CFO of Corvus Energy, Mette Rokne Hanestad. “Woven Capital and Toyota will bring valuable expertise from green mobility, in both fuel cells and batteries. With new key partners, we are strengthening our Asian presence which will be one of the most important markets going forward. Having strong and active owners will continue to be important for our future success. Woven Capital makes the shareholder group even stronger.”

Corvus and Toyota have collaborated since 2021 to develop safer and more advanced marine fuel cell systems in the industry. Corvus has engaged in more than 1000 projects so far, and more than 50 percent of the world’s vessels with zero-emission technology now run on Corvus systems. This investment will provide Corvus with even fuller access to Toyota’s cutting-edge expertise in both fuel cells and battery technology, strengthening Corvus’s ability to bring innovations to a rapidly evolving industry.

SOURCE: Corvus Energy

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